The US Department of Justice (DoJ) has served an arrest warrant on a top London law firm in an effort to seize hundreds of millions of dollars – alleged to be the proceeds of a major international fraud – which it is holding on behalf of a client.
According to court records reviewed by the Guardian, the UK’s National Crime Agency (NCA) served the warrant at the central London offices of the elite firm Clyde & Co, on behalf of the DoJ.
The warrant, signed by a US federal judge, identified the “defendant” as the $330m (£243m) held by Clyde & Co in a bank account at a NatWest branch in the City.
DoJ filings state that “an arrest warrant in rem” – a type of order used to seize property or assets – was served on the law firm on 29 October in an attempt to secure the funds.
The DoJ alleges the money is derived from a complex fraud against the Malaysian state investment fund 1MDB, which embezzled more than $4bn from the fund and laundered money to pay bribes and finance lavish lifestyles of its alleged perpetrators.
The original full article can be found at theguardian.com
(Photo: Free Malaysia Today)